JD.com

Tech giants from JD.com to Alibaba ramp up expansion in fast-growing field.

The number of active buyers on Pinduoduo has reached 823.8 million.

The robust performance was mainly driven by the rapid increase in online sales of medicines and healthcare products.

Kuaishou is onboarding international vendors mainly offering cosmetics, skincare products, food, watches, and luxuries.

The group’s retail business, which targets price-sensitive buyers, is struggling to make money amid fierce competition in the sector.

Tencent doesn’t have a platform to directly rival Alibaba’s Taobao, but it remains relevant in the e-commerce space thanks to WeChat and investments in other e-commerce platforms.

This is the second JD.com spinoff to list after JD Health raised USD 3.5 billion in December.

MissFresh reportedly submitted an application for a US IPO, but its relatively small revenue size may cause hitches.